Buhari seeks approval to borrow $6.93 billion from
President Buhari might have missed two consecutive Federal Executive Council (FEC) meeting but he is in action seeking loans from China and the world bank.
Report has it that President Buhari is seeking parliament’s approval for a proposal to borrow $5.85 billion from China to modernise its rail network and another $1.075 billion for aom the World Bank to help rebuild the insurgency-torn northeast.
Recall in November last year, the president request for approval to borrow $30 billion was turned down by the Senate.
As gathered from a letter the president sent, the loans are part of 2016- 2018 foreign borrowing plan. “There is need for urgent consideration of the identified projects, which will enable us to start reconstruction and rehabilitation of the region in other to create jobs … and rehabilitate the schools,” he said.
Nigerian wake up people. President to borrow money from Bank and China so that they can share it among themselves. What ever happened to the money recover from the thieves recently and more to come. Instead of borrowing to share, the President can borrow the money from within themselves what they have been hidden. I thought they were saving the money for a raining day